Vietnam Cloud Storage Market Expands at a CAGR of 21.65% through 2030F
Vietnam Cloud Storage Market is set to be led by the rapid adoption of cloud-based technologies across various industries during 2026-2030F.
According to TechSci Research report, “Vietnam Cloud Storage Market - By Region, Competition Forecast & Opportunities, 2030F", Vietnam Cloud Storage Market was valued at USD 198.87 Million in 2024 and is anticipated to reach USD 650.33 Million through 2030 with a CAGR of 21.65% through 2030F. One
driver propelling the growth of the Vietnam Cloud Storage Market is the
increasing digitalization of businesses across various sectors. As businesses
in Vietnam embrace digital transformation initiatives, there is a growing need
for scalable, secure, and cost-effective storage solutions to manage the vast
amounts of data generated and consumed in today's digital economy. Cloud
storage offers businesses the flexibility to store and access data from
anywhere, at any time, using a pay-as-you-go model, eliminating the need for
costly on-premises infrastructure investments and enabling efficient resource
allocation. Moreover, cloud storage solutions provide advanced features such as
data encryption, automated backups, and disaster recovery, enhancing data security
and resilience against potential threats and disruptions. By leveraging cloud
storage, businesses in Vietnam can streamline operations, improve
collaboration, and accelerate innovation, driving productivity gains and
competitive advantage in the digital marketplace.
However, the Vietnam Cloud Storage
Market faces challenges, including concerns related to data security and
privacy. As businesses increasingly rely on cloud storage solutions to store
sensitive information, such as customer data, intellectual property, and
financial records, ensuring the security and privacy of data becomes paramount.
The adoption of cloud storage introduces new risks, including data breaches,
unauthorized access, and regulatory non-compliance, which can undermine trust
and confidence among businesses and consumers. Moreover, navigating data
localization regulations and compliance requirements adds complexity to cloud
storage deployments, particularly for multinational companies operating in
Vietnam. Addressing these challenges requires cloud storage providers to invest
in robust cybersecurity measures, such as encryption, access controls, and
threat monitoring, to safeguard sensitive data effectively. Building trust among businesses and consumers regarding the security and privacy
of cloud storage services is essential for driving adoption and fostering
long-term relationships. By implementing transparent data protection policies,
achieving compliance with industry standards and regulations, and demonstrating
a commitment to security best practices, cloud storage providers can mitigate
concerns and build a strong foundation for sustainable growth in the Vietnam
Cloud Storage Market.
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In 2024, the IT & Telecommunications
segment emerged as the dominant end-user industry in the Vietnam Cloud Storage
Market and is projected to maintain its dominance throughout the forecast
period. The dominance of the IT & Telecommunications sector can be
attributed to several factors, including the sector's early adoption of cloud
technologies, reliance on data-intensive applications, and the need for
scalable storage solutions to support growing digital infrastructure and
network services. As the telecommunications industry in Vietnam continues to
expand and modernize, driven by increasing mobile penetration, rising demand
for broadband connectivity, and the deployment of 5G networks, there is a
growing need for cloud storage solutions to manage the vast amounts of data
generated and transmitted across networks. Moreover, the IT sector in Vietnam
is experiencing rapid growth, fueled by the proliferation of startups, software
development firms, and technology-enabled services, which rely on cloud storage
to support software-as-a-service (SaaS) applications, development platforms,
and digital content delivery. The telecommunications and IT
industries play a critical role in driving digital transformation initiatives
across other sectors, such as BFSI, healthcare, retail & e-commerce, and
manufacturing & engineering, further amplifying the demand for cloud
storage solutions in these industries. By offering scalable, reliable, and
secure storage options, cloud storage providers can cater to the diverse needs
and requirements of the IT & Telecommunications sector in Vietnam, enabling
businesses to enhance operational efficiency, improve service delivery, and
drive innovation in the digital economy.
Central Vietnam's rise as the
fastest-growing region in the Vietnam Cloud Storage Market during the forecast period, driven by several
pivotal factors. The region's strategic geographical location, encompassing
major cities such as Da Nang and Hue, positions it as a pivotal hub for
economic development and investment in Vietnam. This advantage facilitates
connectivity and accessibility, allowing businesses in Central Vietnam to
effectively tap into cloud storage solutions to support their operations.
Moreover, Central Vietnam is experiencing rapid industrialization and
urbanization, with increasing investments in infrastructure, manufacturing, and
tourism sectors. As businesses in these industries undergo digital
transformation initiatives to modernize their operations and enhance
competitiveness, there is a growing demand for cloud storage solutions to
address data storage, management, and collaboration needs. Central Vietnam is home to a burgeoning startup ecosystem and a growing
community of technology entrepreneurs, driven by supportive government
policies, incentives, and initiatives to foster innovation and
entrepreneurship. These startups and SMEs are leveraging cloud storage to
develop and deploy innovative digital products and services, driving demand for
cloud storage solutions in the region. Furthermore, Central Vietnam's focus on
promoting sustainable development, green technology, and smart city initiatives
creates opportunities for cloud storage providers to offer solutions tailored
to the region's specific needs and challenges. By investing in infrastructure,
expanding connectivity, and fostering a conducive business environment, Central
Vietnam is poised to sustain its growth trajectory in the cloud storage market,
attracting investments, driving innovation, and contributing to the overall
development of the digital economy in Vietnam.
Key market players in the Vietnam Cloud
Storage Market are: -
- Viettel – CHT Company Limited
- FPT Telecom Joint Stock Company
- CMC Corporation
- VNG Corporation
- Amazon.com, Inc.
- Microsoft Corporation
- Alphabet Inc.
- Alibaba Group Holding Limited
- International Business Machines Corporation
- SAP SE
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“The Vietnam Cloud Storage Market is set to experience substantial growth in the coming years, driven by several crucial factors. These include the growing digitization across various industries, the increasing need for scalable and budget-friendly data storage solutions, and the adoption of cloud technologies to facilitate digital transformation efforts. Furthermore, advancements in cloud infrastructure, cybersecurity, and regulatory frameworks are anticipated to propel market growth even further. With businesses in Vietnam increasingly embracing cloud storage for data management, collaboration, and innovation, the market is projected to see sustained expansion, presenting providers with opportunities to leverage emerging trends and address evolving customer demands.” said Mr. Karan Chechi, Research Director of TechSci Research, a research-based Global management consulting firm.
“Vietnam Cloud Storage Market By Component (Solution, Service), By Deployment Mode (Public, Private, Hybrid), By Organization Size (Large Enterprises, SMEs), By End User Industry (IT & Telecommunications, BFSI, Healthcare, Retail & E-Commerce, Manufacturing & Engineering, Others), By Region, Competition, Forecast & Opportunities, 2020-2030F,” has evaluated the future growth
potential of Vietnam Cloud Storage Market and provides statistics &
information on market size, structure, and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in Vietnam Cloud Storage Market.
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